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News

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

Feb 15, 2019 at 15:40 | Tsvetana Paraskova

Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said on Friday. The Mexican government,…

Trader Trafigura To Stop Oil Business With Venezuela

Trader Trafigura To Stop Oil Business With Venezuela

Feb 15, 2019 at 15:38 | Tsvetana Paraskova

Due to the U.S. sanctions on Venezuela’s oil industry and state firm PDVSA, one of the world’s largest commodity traders, Trafigura, has decided to halt its oil trade with Venezuela,…

Russia’s Lukoil Halts Oil Swaps In Venezuela After U.S. Sanctions

Russia’s Lukoil Halts Oil Swaps In Venezuela After U.S. Sanctions

Feb 15, 2019 at 13:52 | Tsvetana Paraskova

Litasco, the international trading arm of Russia’s second-biggest oil producer Lukoil, stopped its oil swaps deals with Venezuela immediately after the U.S. imposed sanctions on Venezuela’s oil industry and state…

Berkshire Hathaway Share Purchase Boosts Suncor Stock

Berkshire Hathaway Share Purchase Boosts Suncor Stock

Feb 15, 2019 at 09:18 | Irina Slav

Warren Buffett’s investment firm Berkshire Hathaway acquired 10.8 million shares in Canada’s Suncor during the last quarter of 2018, CNBC reports citing a SEC filing. The release of the…

Venezuela Supreme Court Prosecutes Guaido-Appointed PDVSA Board

Venezuela Supreme Court Prosecutes Guaido-Appointed PDVSA Board

Feb 15, 2019 at 09:14 | Irina Slav

Venezuela’s Supreme Tribunal of Justice, the country’s Supreme Court, ordered legal action against individuals that opposition leader Juan Guaido announced as the new board members for PDVSA and its U.S.…

Fight On Climate Change Could Accelerate Norway’s Oil Decline

Fight On Climate Change Could Accelerate Norway’s Oil Decline

Feb 14, 2019 at 16:57 | Tsvetana Paraskova

Stricter global climate policies could influence Norway’s oil and gas industry and lead to a phase out of oil and gas sooner than previously expected, Oystein Olsen, the Governor of…

India To Continue Buying Venezuelan Oil Despite U.S. Warning

India To Continue Buying Venezuelan Oil Despite U.S. Warning

Feb 14, 2019 at 16:51 | Tsvetana Paraskova

India will look into commercial considerations and related factors to determine the value of oil imports from any country, an Indian official said on Thursday, after a top U.S.…

Militants Threaten Attacks On Nigeria’s Oil If President Is Re-elected

Militants Threaten Attacks On Nigeria’s Oil If President Is Re-elected

Feb 14, 2019 at 16:25 | Tsvetana Paraskova

The Niger Delta Avengers (NDA)—the militant group responsible for most of the attacks on Nigeria’s oil infrastructure in 2016—resurfaced days before the Nigerian presidential elections this weekend, saying that…

Total Becomes First Oil Major To Invest In Saudi Fuel Retail Market

Total Becomes First Oil Major To Invest In Saudi Fuel Retail Market

Feb 14, 2019 at 12:36 | Tsvetana Paraskova

France’s Total is the first international oil major to invest in Saudi Arabia’s fuel retail market after signing a deal with oil giant Saudi Aramco to invest US$1 billion…

BOEM Schedules Gulf Of Mexico Lease Sale For March

BOEM Schedules Gulf Of Mexico Lease Sale For March

Feb 14, 2019 at 11:53 | Irina Slav

The BOEM has scheduled a region-wide oil and gas lease sale for the Gulf of Mexico, in which it will offer a total 14,696 blocks spanning 78 million acres,…

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